[Form 4] NXG NextGen Infrastructure Income Fund Insider Trading Activity

Rhea-AI Filing Summary

Insider purchase by a director: The filing shows that a reporting person identified as Mullins, Andrea acquired 375 common shares of NXG NextGen Infrastructure Income Fund on 08/20/2025 at a subscription price of $44.92 per share via exercise of transferrable rights from the Fund's rights offering that expired on 08/13/2025. After the reported transaction the reporting person beneficially owns 855 shares in total, held directly. The shares acquired were confirmed on 08/20/2025 following pro-ration and allocation under the offering's over-subscription privilege.

Positive

• Director increased ownership by acquiring 375 shares, which can signal alignment with shareholder interests
• Transaction executed through rights offering with transparent pro-ration and over-subscription allocation

Negative

• None.

Insights

Financial Analyst

TL;DR: A director purchased 375 shares through a rights offering, increasing direct ownership to 855 shares; transaction appears routine.

The director acquisition at the subscription price of $44.92 was executed via the Fund's transferrable rights offering and recorded on 08/20/2025. The purchase was the result of pro-ration and over-subscription allocation rather than an open-market trade, which limits immediate market signaling. The transaction size (375 shares) and resulting total holding (855 shares) are small relative to typical institutional holdings and do not by themselves imply a material change to control or substantial change in insider alignment.

Corporate Governance Expert

TL;DR: Insider exercise of rights is a routine, compliance-driven ownership change; disclosure is consistent with Section 16 reporting.

The Form 4 discloses that the reporting person is a director and properly reported the acquisition following the rights offering. The explanation clarifies the mechanism (exercise of rights, pro-ration, over-subscription allocation). The filing appears complete for the disclosed transaction. The signature block shows execution on 08/22/2025, which aligns with timely post-transaction reporting practices for such filings.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Mullins Andrea

(Last) (First) (Middle)

4925 GREENVILLE AVENUE

SUITE 1310

(Street)

DALLAS TX 75206

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NXG NextGen Infrastructure Income Fund [ NXG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	08/20/2025		P		375	A	$44.92(1)	855	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares were acquired pursuant to the exercise of rights to acquire common shares in the Fund's transferrable rights offering, which expired on August 13, 2025, at the subscription price of $44.92. The number of common shares acquired was confirmed to exercising rights holders on August 20, 2025, following the pro-ration and allocation of shares pursuant to the over-subscription privilege.

	/s/ Brad Mead	08/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What change in ownership did the NXG Form 4 report?

The filing reports that 375 common shares were acquired on 08/20/2025, increasing beneficial ownership to 855 shares.

At what price were the NXG shares acquired?

The shares were acquired at the subscription price of $44.92 per share.

How were the NXG shares acquired according to the filing?

Shares were acquired pursuant to exercise of transferrable rights from the Fund's rights offering that expired on 08/13/2025, with allocations confirmed on 08/20/2025 following pro-ration and over-subscription.

Who is the reporting person on the NXG Form 4?

The filing identifies the reporting person as Mullins, Andrea and indicates the person is a Director of NXG.

When was the Form 4 signed?

The signature block shows execution by /s/ Brad Mead dated 08/22/2025.